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| September 25, 1998 |
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| Initiation of Joint Venture Polystyrene Operations |
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Asahi Chemical Industry Co., Ltd.
Mitsubishi Chemical Corporation |
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A&M Styrene Co., Ltd. will begin operation on October 1, as the new joint venture
established by Asahi Chemical and Mitsubishi Chemical for polystyrene.
The basic configuration of the joint venture and its operations, as shown below
in the corporate profile, has emerged from the basic agreement reached in April
1998 by Asahi Chemical and Mitsubishi Chemical for the consolidation and merger
of their polystyrene operations, and the progress by both parent companies in
the accord for its establishment and growth.
Corporate Profile of New Joint Venture
| Company name: |
A&M Styrene Co., Ltd. |
| trademark: |
A&M Polystyrene |
| President: |
- Hiroshi Susumago
- Senior Managing Director, General Manager of Chemicals & Plastics Administration,
Asahi Chemical Industry Co., Ltd.
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| Vice president: |
- Toru Kodama
- Board Director, General Manager of Industrial Chemicals Department B, Industrial
Chemicals Company, Mitsubishi Chemical Corporation
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| Head office: |
4-1, Koishikawa 1-chome, Bunkyo-ku, Tokyo 112-0002,
Japan
Tel.: +81-3-5689-6543 |
| Paid-in capital: |
¥30 million (equally by
Asahi Chemical and Mitsubishi Chemical) |
| Scope of business: |
- Polystyrene marketing and sales, production, and related R&D.
- Operation to begin with domestic marketing and sale of polystyrene; to be
extended within approximately one year to polystyrene production and related R&D,
upon their transfer from the parent companies.
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| Operational start-up: |
October 1, 1998 |
| Estimated sales: |
Approx. ¥40,000 million/year
(initial period, domestic only) |
| Employees: |
Approx. 70 (initial period) |
Current polystyrene production capacity of parent companies
| Asahi Chemical: |
163,000 tons/year, Mizushima Plant
180,000 tons/year, Chiba Plant |
| Mitsubishi Chemical: |
200,000 tons/year, Yokkaichi Plant |
| Total: |
543,000 tons/year |
| For further information, please contact |
| Mitsubishi Chemical Corporation |
| Public Relations Dept. |
| Tel: [+81] 3-3283-6274 |
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